Answer
${{\$}} 591,230$
Work Step by Step
Apply the given formula with
$ C=510,000,\quad r=0.03,\quad t=5$
$ S=510,000(1+0.03)^{5}$
$=510,000(1.03)^{5} \qquad $ ... round to the nearest dollar
$\approx{{\$}} 591,230$
Precalculus (6th Edition) Blitzer
by Blitzer, Robert F.
Published by
Pearson
ISBN 10:
0-13446-914-3
ISBN 13:
978-0-13446-914-0
Chapter 3 - Section 3.1 - Exponential Functions - Exercise Set - Page 450: 68
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